the millionaire in you

The inability or failure to discover and maximize one’s latent potential explains why most people have not achieved their purpose in life. This also explains why most people have not achieved their desired financial independence because they do not realize that they have the millionaire potential within. So, let’s x-ray this text titled “The Millionaire in You” as a solution to this challenge.

The book is written by Dr. Michael LeBoeuf, a renowned business consultant, professional speaker, and seminar leader.

In this book, LeBoeuf says there is millionaire potential and a wonderful life of personal freedom living inside of you, and the key to making it happen is seeing the possibility and making the right choices to create it. He emphasizes that there are only four things you need to know about money and these are: How to do it; how to save it; how to invest it; and how to enjoy it.

According to LeBoeuf, very few people manage to do all four, although almost anyone can do it. He says the answer lies in applying a simple principle he calls “LeBoeuf’s Law.” This law is about investing your time actively and your money passively. LeBoeuf says that if you commit to yourself and are willing to do whatever it takes to become a millionaire, you almost certainly will. He emphasizes that you shouldn’t tell him it can’t be done, because he has done it, and millions of others have too.

LeBoeuf says that the purpose of writing this book is to make you financially independent and enjoy the same freedom that he enjoys. He adds that there are three steps involved in creating the millionaire in you. According to him, the first thing is to see the possibilities; the second is to do what is necessary to create your fortune and enjoy it; And finally, you need to take a step back, celebrate your financial freedom, and enjoy it.

As far as structural segmentation is concerned, this book consists of three parts. The first part is thematically tagged “See it!” According to LeBoeuf, any American today, and by extension anyone today with basic common sense, can become a millionaire. All it takes is the ability to see possibilities and then know how to proceed and move on, he says, adding that four main ideas are central to the topic of making money.

The first idea is called the “Time and Wealth Grid.” In LeBoeuf’s words: “It’s the scourge of modern life that plagues most of us: if you have money, you don’t have time. If you have a lot of time, it costs you money. And most of us could use a lot more than that.” both. Welcome to the time/money trap.”

He says that if you want to know how prevalent this problem is, just visit crowded California freeways, the Long Island Expressway, commuter rail, or other urban traffic arteries during rush hour. LeBoeuf reveals that what he will see is literally millions of people frantically rushing to and from work, putting in long hours to afford a home and a lifestyle they don’t have time to enjoy.

According to him, to get out of the time/money trap, one needs to understand how one got there in the first place. People fall into the trap of thinking with a paycheck mindset, says LeBoeuf. He claims that because most people think in a paycheck mentality, they assume that having more than one requires sacrificing something of the other. The author adds that time and money are not one-dimensional trade-offs unless people assume they are and choose to live their lives that way.

When it comes to interpreting the schematic analysis of the Time and Wealth Grid, LeBoeuf identifies five different types of people. These are the Slave; Grasshopper; the employee; owner; and the Winner. He emphasizes that the Slave has little to no wealth or free time, while the Grasshopper has a lot of time and little to no wealth.

LeBoeuf says the Clerk represents those who work regular hours for a decent wage that pays the rent and puts food on the table. The Employee trades time for money and focuses on earning to spend. The author analyzes that the Owner has a lot of wealth but little discretionary time. “The Winner enjoys the best of all possible worlds. The Owner is rich because of what he owns. The Winner is rich because he has money and time to enjoy it,” says LeBoeuf.

As far as the second idea is concerned, look at his law that says you should invest your time actively and your money passively. “Actively investing your time means deciding how your time will be spent rather than spending it according to current circumstances or the dictates of others,” he educates.

The author adds that a good time portfolio invests waking hours in four basic activities, that is, learning, earning, living and giving. LeBoeuf says that when it comes to investing money, most people pay large sums of money to brokers, financial planners, etc. to actively manage their money for them. “Those fees and commissions contribute to the wealth of the investment professional rather than the investor,” he says.

LeBoeuf says that the third idea of ​​wealth creation is simplicity and it is the master key. Quoting John C. Bogle, he asserts that simplicity gives us the power to do less of what doesn’t matter and more of what does matter. “The paradox of our time is that as things get more and more complex, the more we need simplicity,” says LeBoeuf, adding that there are two simple but extremely powerful rules for managing time and building wealth. The key to managing time is the 80/20 Rule, while the key to building wealth is the Rule of 72, he says.

The last idea discussed is increased life expectancy labeled as the “greatest gift of the 20th century”. LeBoeuf points out that, although marked by financial challenges, the longer life expectancy guarantees the advantage of having more years to seek wealth. Therefore, he suggests that he should resolve to make the most of his longevity bonus; create your own crew; and realize that delayed gratification is not denied.

In the second part of this book, summarily titled “Do It!”, LeBoeuf discusses ten options for achieving personal and financial freedom. These are that you should live the life you want rather than the life others expect; stack the odds in your favor instead of against you; be a super saver instead of a big spender; increase the market value of your time instead of working long hours; and do less better instead of trying to do everything.

Others are that you should capitalize on the unexpected rather than be derailed by it; owning the market instead of trying to beat the market; limit your losses instead of letting bad luck ruin you; listen to those who know instead of those who sell; and finally do what you want to do now instead of regretting it later.

In the last part of the book, that is, the third part, he says that you have to celebrate and enjoy. “Congratulations! You’ve made it to the winner’s circle, where you can enjoy the harvest of your years of learning, working, saving, and investing. Now you have the freedom to spend your time any legal way you want,” LeBoeuf introduces. He claims that having an abundance of money and time puts you in control of your life, but it won’t automatically make you happy.

LeBoeuf advises that once you achieve financial independence, doing the following four things can greatly improve the quality of your life: Stay financially independent and out of the time/money trap; make sure you stay physically and mentally active; experience the joy and personal satisfaction of giving back and making the world a better place; and finally, realizing that the true joy is in the journey and not in some mythical destination.

As for style, something that always works for LeBoeuf is the simplicity of his language and the uniqueness of his presentation, which he has also exhibited here. The advice offered in this book is enlightening and motivating. He uses literary/classical allusions to achieve conceptual amplification and lend credibility to his message.

However, the four ideas discussed in detail in the first part should have been clearly segmented into chapters for a different structural pattern.

Altogether, this text is a classic. It is highly recommended for those who aspire to achieve permanent financial abundance, freedom and enjoyment.